Tuesday, May 18, 2010

Medisave sum to be raised

Money in Medisave account will be increased to keep pace with rising health-care costs, another reason is because Singaporeans are living longer. Life expectancy for men now stands at age 79 and women 83.7 years. The Cap of Medisave account has been raised from $32,000 to $37,000. Singaporeans on average requires 11 hospital stays in a lifetime with most coming from later years of life.

Singaporeans need to save more for their retirement and health care, if not it will cause more serious problems later on due to rapid aging population.

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